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Sector Update: Consumer Stocks Softer in Late Afternoon Trading
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Sector Update: Consumer Stocks Softer in Late Afternoon Trading
Apr 1, 2024 1:16 PM

03:50 PM EDT, 04/01/2024 (MT Newswires) -- Consumer stocks declined late Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.9%.

In corporate news, Conagra Brands ( CAG ) looks set to report in-line fiscal Q3 results on Friday, with sequential volume progress reflecting increased promotions, potentially leading the foodservice company to reiterate its full-year guidance, RBC Capital Markets said. RBC kept the company's sector perform rating and $29 price target. Conagra shares were up 0.3%.

DoorDash ( DASH ) will offer same-day delivery of home improvement products for Lowe's (LOW). DoorDash ( DASH ) shares added 0.5%, and Lowe's was down 2.2%.

Trump Media & Technology Group ( DJT ) shares dropped 21% after the company reported a 2023 loss of $58.2 million, compared with earnings of $50.5 million a year earlier.

Big Lots ( BIG ) rose 1.9% after the company opened new buying offices in Shanghai and Ho Chi Minh City in a bid to expand product sourcing and lower operating costs.

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